Notice the ramping of volumes for the last 4 days, higher and higher, with larger daily ranges...with a nice scam wick to shake people out before a real move starts. (volume near average levels for the last month, which is rather solid)
The catalyst of Hong Kong allowing people to buy crypto might help take both Ethereum and Bitcoin out of their consolidations and back into trending up.
Both charts are bullish vs the dollar as of today, which makes it an ideal long entry if you're not invested. But since the ratio of Ethereum vs Bitcoin shows a buy signal, we can safely allocate some capital to Ethereum as well as BTC to ride the next leg up.
I'd suggest staking it if you're investing in this for extended periods of time.
Additionally, you can look into selling calls OTM each month, against your holdings over at Deribit, but that poses extra risks.
As for the immediate setup at hand, the short term upside is substantial, shown by the white boxes on chart here. The entry I suggested to my clients can be seen in the chart as well, we bot both Bitcoin and Ethereum earlier today, vs USD, but also had a leveraged pair trade long in ETH vs BTC that we had entered a few days ago lower.
We've secured gains in that one to not be levered in our crypto accounts, but it could be held if you're playing the relative strength move here. (heck you can enter margin longs in ETHBTC today, as long as sizing is sane)
Best of luck!
Cheers,
Ivan Labrie.
The catalyst of Hong Kong allowing people to buy crypto might help take both Ethereum and Bitcoin out of their consolidations and back into trending up.
Both charts are bullish vs the dollar as of today, which makes it an ideal long entry if you're not invested. But since the ratio of Ethereum vs Bitcoin shows a buy signal, we can safely allocate some capital to Ethereum as well as BTC to ride the next leg up.
I'd suggest staking it if you're investing in this for extended periods of time.
Additionally, you can look into selling calls OTM each month, against your holdings over at Deribit, but that poses extra risks.
As for the immediate setup at hand, the short term upside is substantial, shown by the white boxes on chart here. The entry I suggested to my clients can be seen in the chart as well, we bot both Bitcoin and Ethereum earlier today, vs USD, but also had a leveraged pair trade long in ETH vs BTC that we had entered a few days ago lower.
We've secured gains in that one to not be levered in our crypto accounts, but it could be held if you're playing the relative strength move here. (heck you can enter margin longs in ETHBTC today, as long as sizing is sane)
Best of luck!
Cheers,
Ivan Labrie.